Sheepdip

Listening to this on 5Live just now and it seemed to suggest that you'll need 35 years contributions to get the new pension?

Sheepdip

and this: -

"and anyone who has not paid NI for 10 years will not qualify"

classicmds

Isn't there a Social Security agreement which counts SS payments in US as fulfilling yearly contribution requirements?

http://www.ssa.gov/international/Agr...phlets/uk.html

AZ_Alba

Typical, just when I get to 30 years.

bromleygirl

You need at least 10 years in the US to get any kind of state pension in the US

Sally Redux

I thought that was always the case, although I've seen people on BE who say they have got a UK pension with less than that.

Sheepdip

I took that to mean if your last payment was more than 10 years ago from your retirement date then you wouldn't now qualify.

Sally Redux

I think it's years of contributions - I'm so clueless on pensions though.

lansbury

The current UK rule is 10 years contribution for a minimum pension, which is I believe one third of the full pension. Again current is 30 years for the full pension, any years in between are pro rated. It doesn't matter how long ago you made the last payment.

lansbury

Glad this thread was started, I've just realized I should have had the forms to claim my pension last month.

nearpost1

Now they are saying the minimum will be seven years up to ten years, but I don't know how they decide on who may join in with only seven years contributions before leaving the uk, and who is required to have made ten years of contributions.

While the new 35 year requirement seems like moving the goalposts, it is based on the new higher pension, i.e. 30/35ths will pay you more than 30/30ths under the present £107 payout. So you are still ahead because the new pension is £144, not £107.

The people who may feel frustrated are those retiring before 2016, as they will be stuck with the current £107 pension, which of course only requires 30 years or units.

Mummy in the foothills

They are changing it to 35 years for a full pension.
I'm making back payments and even then paying all the way to retirement will give me 30 years. So I'm screwed.

nearpost1

Not so, you will receive 30/35ths of £144, about £122, that is better than 30/30ths of £107, which of course is £107.

People retiring before 2016 will be stuck with existing plan. They will only need 30 units, but only get £107

BTJ

And the second state pension as well, which is woefully difficult to calculate and most people don't qualify for much as the majority of pension schemes "contract-out" of it, but it certainly isn't as simple as just £107 p.w., hence the need for change. Second state pension will of course cease to exist from 2016.

nearpost1

Yes, thanks for that info, it only meant about £3.00 a week to me, so I didn't think about it.

As I understand it, people with a decent second state pension, will be granted the greater of the two payouts, their existing forecasted payout, or the new single tier payment.